In 2024, the Golden Visa program in the European Union has undergone significant changes. For example, Portugal, which used to be one of the most popular countries for obtaining a golden visa, has made certain changes to the program, revising the requirements and restrictions. Find out more about the updated rules for obtaining golden visas in 2024 in Europe

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The "golden visa" program allows a foreigner to obtain a permanent or long-term residence permit in the country in exchange for a certain amount of investment in the state's economy. This offer is quite interesting for investors who want to diversify their capital, gain access to new markets, improve the quality of life or obtain a second citizenship.

At the same time, taking into account that in 2022 the European Commission called on the governments of the states to stop selling citizenship to investors, arguing that it is a threat to security in the region, many EU countries abandoned the program or changed the rules for issuing golden visas.

In which European countries can a golden visa be issued in 2024 and what are the requirements? Updated rules in top European countries further.

Greece

Greece provides one of the most attractive and affordable Golden Visa programs in Europe. The minimum investment amount is only €250,000 in real estate or €400,000 in stocks or bonds.

The residence permit is valid for 5 years and can be extended indefinitely. After 7 years, a foreigner will be able to apply for Greek citizenship.

You do not need to live in the country to obtain a permit. Family members can also be included in the application.

In addition, the Greek foreign tax regime allows Greek residents to optimize their tax obligations and pay an annual tax levy for 15 years instead of traditional income tax.

Importantly! From 2023, the investment threshold for the purchase of real estate has been raised to 500,000 euros for housing located in the Athens area, the municipality of Thessaloniki and the islands of Mykonos and Santorini.

Advantages of a golden visa Greece:

- Visa-free regime within Europe (26 countries of the Schengen zone).

- Moving with the family.

- Tax benefits.

- A calm and measured lifestyle and world-class beaches.

- The possibility of renting out your investment property.

Cyprus

Cyprus offers one of the most profitable and practical golden visa programs in the world. The investor must invest at least 2 million euros in business or funds or 300,000 euros in real estate.

The residence permit does not need to be renewed; it works throughout life. After 7 years, you can apply for citizenship through naturalization.

An investor can travel to 173 countries of the world without a visa.

Advantages of the Cyprus Golden Visa program:

- Absence of residence requirements.

- Freedom of movement within the European Union.

- Access to international schools with studies according to the British program.

- Tax benefits – no gift or inheritance tax, as well as a low corporate tax rate (only 12.5%).

Italy

One of the most creative and competitive golden visa programs in Europe is provided by Italy. The program provides four different investment methods:

- 2 million euros investment in Italian government bonds;

- EUR 500,000 investment in an Italian limited liability company;

- EUR 250,000 investment in an Italian innovative startup;

- 1 million euros of donations to a charity initiative in Italy.

You can move to the country with your family. After 10 years of living in the country on the basis of a permit, you can apply for citizenship through naturalization.

Advantages of the golden visa of Italy:

- Many different ways of investing.

- Life in a state recognized as the center of world culture.

- The possibility of transferring citizenship to children through the procedure for obtaining citizenship by origin.

Spain

Several investment options are available in Spain's Golden Visa program. You can invest €500,000 in real estate, €2 million in Spanish government bonds or €1 million in shares of Spanish companies.

In addition to financial requirements, the age of the investor must exceed 18 years, it is also additionally necessary to confirm the absence of criminal records and provide a health insurance policy.

The residence visa is valid for two years, but if the investment is maintained and the investor stays in Spain for at least 183 days a year, he can renew his permit every five years.

  Advantages of the golden visa of Spain:

- High quality of life in the country.

- Quick registration of a residence permit.

- Visa-free regime within the EU.

- Possibility to move with the family.

- Spain is recognized as one of the best countries for retirement.

Portugal

The Portuguese Golden Visa program is one of the most popular investment programs for residence in Europe and the world. The program launched in October 2012, and since then more than 12,000 applicants have applied for a golden visa.

  The golden visa procedure in Portugal underwent major changes in October 2023. The country's government has excluded real estate investment from available investment options. Currently, foreigners can invest:

- To qualified funds (the amount must exceed EUR 500,000).

- Open a business with at least 10 jobs.

- To invest an amount equal to or exceeding 500,000 euros in research activities carried out by public or private research institutions.

- To support initiatives that deal with the restoration or preservation of national cultural heritage (investment amount from 250,000 euros).

- Create a company with an authorized capital of EUR 500,000 or more and at least five jobs.

  Advantages of the golden visa of Portugal:

- High quality of life in the country.

- The minimum investment amount is 250,000 euros.

- The possibility of obtaining citizenship after 5 years.

- There are no requirements for a minimum period of stay.

- Tax benefits.

Malta

Malta has become very popular as a residence option for many investors, families and business people. Due to its geographical location, high quality of life and stable political climate, it is an ideal center for foreign investment.

There are two approved ways of obtaining the right of residence through investment in Malta: renting a house and buying real estate.

Minimum investment amount:

- €300,000 for the purchase of a property in the south of Malta/Gozo or €350,000 in the rest of Malta.

- €10,000 for a rental property in the south of Malta / Gozo or €12,000 in the rest of Malta.

This European investment residence permit application also requires two additional investments:

- Non-refundable state contribution of 28,000 euros when buying real estate or 58,000 euros when renting.

- Charitable contribution in the amount of 2,000 euros to a registered public organization.

Advantages of the permanent residence program in Malta:

- Quick procedure for obtaining a residence permit.

- Low minimum investment requirements.

- Living in the most LGBTQ-friendly country.

- Visa-free access to the Schengen area (90 days out of 180 on a permanent basis)

Hungary

The Government of Hungary announced the launch of the golden visa program in 2024, which was called "Residence Permit for Guest Investor". Three investment options will be available to foreigners:

- In investment funds - from 250,000 euros;

- Purchase of real estate - from €500,000:

- Charitable contribution (non-refundable) – 1 million euros.

Advantages of the golden visa of Hungary:

- Amazing validity period of the residence permit - 10 years;

- Possibility to move with the family;

- Absence of minimum residence requirements;

- Rights, like those of an EU citizen (visa-free travel, the right to reside, study in the countries of the region, etc.).

Golden visa programs provide investors with a lot of additional benefits and privileges, the main thing is to choose the country and method of investment.

If you are planning to move to one of these countries, be sure to use the guides from Visit World. These detailed written documents contain basic advice on visa obtaining, border crossing, employment, citizenship, and much more. For more information, please follow the link.

Daria Rogova, Head of Insurance at Visit World

To move, travel or work safely in a new country, you will need health insurance. You can apply for an extended policy on our website here.

Products from Visit World for a comfortable trip:

Travel guide for 200 countries;

Legal advice from a local specialist on visa and migration issues;

Travel insurance around the world (please select the country of interest and citizenship to receive services);

Medical insurance all over the world.

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EU countries cancel golden visas: what is the reason?